Practical and Practice issues for Professionals who practice in the area of taxation. Moral, social and economic issues relating to taxes, including international issues, the U.S. Internal Revenue Code, state tax issues, etc. Not for "tax protestor" issues, which should be posted in the "tax protestor" forum above. The advice or opinion given herein should not be relied on for any purpose whatsoever. Also examines cookie-cutter deals that have no economic substance but exist only to generate losses, as marketed by everybody from solo practitioner tax lawyers to the major accounting firms.

Not to mention the "Yeah that is gonna happen" factor. My home state is notorious for not being able to get little things like unemployment, welfare, and such back in any thing like a timely manner, and this is somehow suddenly going to happen with something like this, I DON'T THINK SO! I can see the people whose entire income has been swallowed up by this "Fair Tax" sitting home freezing to death while they are starving waiting for the refunds to come. This is truly an oxymoron if ever there was one.

The fact that you sincerely and wholeheartedly believe that the “Law of Gravity” is unconstitutional and a violation of your sovereign rights, does not absolve you of adherence to it.

rogfulton wrote:I don't know where a read it (maybe a link in a prior post somewhere here on Q) but as I remember, in order to make up for the revenue generated by the current system, the 'fair tax' would need to be something north of 30% which would be on top of whatever the local rate was.

To be fair, the stated rate was upward of 24% inclusive, leading to more than 30%, as sales tax is normally measured. As to how it would combine with existing state sales tax, that would probably be up to the state.